Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Cranswick bringing home the bacon – upgrades FY profits forecast
Food producer Cranswick LON:CWK has published a Q3 trading statement today, covering the period to 23rd December. This notes stronger than anticipated trading in the run up to Christmas and adjusted pre-tax profits for the full year to 30th March are now expected to be above previous board projections.
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#2. Dunelm falling freight costs boost margins
Interim numbers from Dunelm LON:DNLM are out today covering the 26 week period to 30th December. Volume growth saw sales tick 4.5% higher, whilst gross margin also advanced 160 bps as a result of falling freight costs. The company expects to see further market share growth in the second half of the year, whilst acknowledging that an underlying air of uncertainty persists amongst consumers. Pre-tax profit forecasts for the full year remain in line with expectations.
#3. Young’s pre-Christmas sales show festive cheer
Pub operator Young’s LON:YNGA has issued its Q3 trading update covering the key Christmas period. Revenues over the five week period to 1st January were up 7.2% on a like-for-like basis, whilst the quarter as a whole saw a 4.7% advance. Management note this as being reflective of continued investment in the estate. Again there is caution over the outlook for consumers, but with the business performing in line with expectations, this is underpinned by confidence for the year ahead.
